Tangem Wallet Review

Every trader needs to be on top of their game 24/7 and keep their digital assets secure. A hardware crypto wallet might be the best solution for this! In this Tangem Wallet review, I’ll cover everything you need to know about this wallet, from pros and cons to its unique features.

Tangem is a Swiss-based company in the blockchain space, producing hardware wallets that resemble regular credit cards. Being thin, small, and NFC compatible, the Tangem Wallet is a convenient solution for people who need a hardware wallet on the go! Don’t forget to use other wallets like Ledger or Trezor alongside Tangem for more diversification and better security.

Tangem bridges the gap between Web2 users and Web3 enthusiasts. The similarity to a credit card allows people to identify the Tangem wallet as a traditional financial tool. However, its functionality as a cold wallet for cryptocurrencies encourages users to explore the crypto space and experience the Tangem hardware wallet firsthand.

What is the Tangem Wallet?

Tangem was founded back in 2017. Fueled by the idea of making cryptocurrencies even more accessible to the world, the creators secured $15 million worth of funding from SBI Crypto Investments Ltd.

That’s when the Tangem hardware wallet came to light! Notably, it was Tangem 1.0, with the 2.0 version launched in 2023. The launch of Tangem 2.0 introduced advancements such as seed phrases and a sleek wallet design.

The company introduced the concept of physical cards to the Web3 space as a way to make hardware wallets more convenient for users. The physical cards are the size of regular credit cards and contain a secure chip for cryptographic operations. It minimizes the risk of somebody stealing or hacking your private keys!

Tangem seamlessly blends the security standards of hardware wallets with easy access to software wallets. However, the Tangem wallet is cold storage, so the surface-level influence of hot wallets is just an added benefit, but not a functionality. For example, you can’t connect other wallets to Tangem like you would with MetaMask and Ledger Flex.

Nevertheless, the Tangem hardware wallet is perfect for people who prioritize security and convenience. You can enjoy the heightened security of offline storage but still access it on Tangem’s mobile app if you need to manage your crypto.

Additionally, the wallet supports over 6,000 cryptocurrencies. Therefore, every trader who wants to explore less mainstream crypto coins and projects can do so easily with Tangem. You can find hundreds of altcoins to trade. However, make informed decisions about every transaction, as risky trading choices can have detrimental consequences for your financial situation.

Tangem Wallet Review: PROS

Security and convenience are the most important attributes mentioned in this Tangem Wallet review. However, the wallet has a few pleasant surprises, including thousands of supported cryptocurrencies and durability.

A New Approach To Security Of Hardware Wallets

Since the Tangem hardware wallet is a type of cold storage, it keeps your digital assets safe from online threats such as malware, cyberattacks, and hacking. Cold wallets store everything offline, so you can rest assured that your funds are protected with the highest security standards.

Also, cold wallets usually require some sort of authorization, so you’ll need to set a PIN or other type of access restrictions. Thanks to such efforts, nobody besides you will be able to access your digital assets!

Tangem has a tiny element chip integrated into its smart card wallet. You’ll find similar chips in traditional banking cards or governmental IDs. It’s EAL 6+ certified and provides additional security for your wallet.

Tangem’s element chip generates your private key with a True Random Number Generator. It never leaves the card, so each user has a unique private key that is probably impossible to intercept! Not even Tangem knows your private key, thanks to the generator.

You can buy a pack of 2 or 3 cards, depending on your needs. One of them will be your main while the other one (or two!) will be your backup. This approach allows users to protect their cards in case of theft, floods, or other misfortunes. You lose one, but have another one safely tucked away!

Tangem’s mobile app is open-source, and you can find its code on GitHub. Thus, the community can check and verify the code at any time! Sometimes, people find vulnerabilities in the code and can easily fix them, thanks to its open-source nature.

Moreover, independent audits confirmed what we covered in this Tangem Wallet review. Kudelski Security audited Tangem’s firmware back in 2018, and Riscure did another audit in 2023. These third-party audits verified that Tangem has no vulnerabilities or hidden algorithms, so it’s a safe and reliable wallet.

Additionally, Tangem released Tangem 2.0 in late 2023. This version included seed phrase generation, which wasn’t available in Tangem 1.0. Thanks to that, you can import wallets using seed phrases with 12, 18, or 24 words!

Convenient Design and User-Friendliness

The Tangem hardware wallet is the size of a credit card, making it easy to carry around. Whether you need a glance at your crypto balance or transaction verification, portability is a big advantage I want to highlight in this Tangem Wallet review.

On top of the Tangem Wallet being small and handy, you get access to its mobile app. Just don’t forget to protect your app with a PIN or biometric login!

Most of the operations happen on the app, and you don’t need to worry about setting up a traditional hardware wallet for each transaction. So, if you want to swap, buy, sell tokens, or just look at your transaction history, open the Tangem app and find what you’re looking for with just a few clicks.

Near-field communication (NFC) stands out in this Tangem Wallet review as an innovative solution for enhancing user experience.^[1] NFC allows two electronic devices to communicate with each other if they’re closer than 4 centimeters. Also, NFC powers electronic identity documents and supplements contactless payments that have become increasingly popular over the past years.

Since it’s an NFC smart card wallet, you simply need to tap the Tangem Wallet on your smartphone to set it up. Afterward, you can complete transactions with the same tapping motion for your convenience.

If you’re worried that your smartphone doesn’t support NFC, you can always check with your manufacturer. However, I wouldn’t worry about it, as over half of shipped electronic handsets had NFC in 2016, and it’s forecasted to take over the electronics market in the coming years!

Thousands of Supported Cryptocurrencies

The possibilities for trading are endless with Tangem. The wallet supports over 6,000 cryptocurrencies, including notable names such as Bitcoin, Ethereum, Ripple, and Dogecoin. If that’s not enough for your needs, you can find various altcoins and lesser-known cryptocurrencies in the Tangem Wallet.

Consequently, you can easily swap, buy, and sell your tokens directly from your wallet. So, the combination of supported cryptocurrencies and transaction types makes Tangem an attractive choice for everyday trading!

However, you’ll need to use the Tangem app for these transactions. The wallet doesn’t have any interface, but you’ll find a sleek in-app interface that makes your trading experience straightforward.

Long-term Warranty and Durability in One Wallet

The Tangem Wallet has an EAL 6+ certified chip manufactured by Samsung. Consequently, the chip has a 25-year warranty for any damages or malfunctions. Tangem hasn’t been around for that long, so nobody can testify whether the chip functions after such a long time.

The physical cards can withstand extreme temperatures and still be in perfect condition! The information on Tangem’s website claims that the chip can withstand temperatures from –25° to +50°C. Additionally, it's designed to be resistant to dust and water, providing enhanced physical protection.

The user Tangem Wallet reviews don’t include people going out to test the card in such temperatures. However, most of your credit cards work fine after you accidentally leave them in the washing machine (I don't recommend testing this theory). So, it’s more than likely that the Tangem Wallet will be just fine in blizzards or other conditions!

Even bending the cards won’t do anything to them, so you can safely take them with you anywhere. However, you should take care of your Tangem Wallet as with any of your belongings. Changing your cards to new ones can be time-consuming, so be mindful of that.

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Tangem Wallet Review: CONS

As with any other wallet, there are some drawbacks to the Tangem Wallet. Review them before purchasing, as some can be real deal breakers.

Dependency on Physical Cards

While not the most significant argument against the Tangem Wallet, it’s a real possibility for many users. Considering it’s a slim physical card, you might easily lose it during your daily activities. While no Tangem Wallet reviews claim such instances, the risk of losing your cards isn’t off the table yet!

Whether you’re running errands or never keep your wallet in one safe place at home, you face the risk of losing your Tangem card. So, read about its replacement policy before it’s too late!

Consequently, the Tangem Wallet comes with at least 2 cards, so there will be challenges in case you need to replace them. You’ll need to follow Tangem’s procedures to replace your card, set it up from the beginning, and make sure your private keys are safe. It might not be worth the hassle for people who prefer the convenience of hot wallet recovery.

Additionally, most of the hot wallets allow you to log in with just your credentials, and the Tangem Wallet app implies that you should be able to access it with just the app. However, it’s not the case. Since Tangem is a hardware wallet, you’ll need to have the physical card on hand to perform any transactions or simply log in.

The Wallet Can Be Confusing or Inconvenient for Beginners

The traditional cold or hot wallets are well-known for their differences. However, Tangem introduced a blend of these two types in their solution. So, it might take some time for people to learn how to use a hardware smart card wallet with NFC communication.

Also, you’ll need to juggle both the Tangem hardware wallet and the mobile app to verify your transactions. The wallet itself doesn’t have a display, so you’ll need to have your phone nearby. Otherwise, you won’t be able to trade your crypto!

If interoperability is a big deal for you, Tangem won’t be the best choice because it can’t integrate with other wallets. Let’s say you use a hot wallet like MetaMask but decide to get a cold wallet to secure your assets. You can easily connect it with some cold wallets like Ledger and add a layer of security to your crypto transactions.

Tangem supports WalletConnect, so you can access various decentralized applications (dApps). However, you won’t be able to connect your Tangem Wallet with other wallets like MetaMask.

Additionally, you’ll need a mobile device running at least Android 6.0 and/or iOS 15.0. Otherwise, your phone won’t connect to your Tangem card due to technical details. Some older models, like the iPhone 7 (Plus), won’t work either because these phones don’t even have NFC! So, make sure you check your phone details before placing an order with Tangem.

Tangem Wallet Price

There are two wallet packs for you to choose from. For example, a 2-card set costs $54 and a 3-card set is $69. While Tangem Wallet reviews recommend getting a 3-card set for additional backup, the 2-card set works just fine!

Also, Tangem partners with different resellers. You can find the list of official resellers on Tangem’s website. It has a handy navigation menu, so you can search across the continents and get all the information you need!

There are no subscription or renewal fees when you purchase the Tangem Wallet. However, be aware that you’ll incur regular transaction fees when trading cryptocurrencies directly from your wallet. It’s a common fee model for any crypto wallet, as you need to cover network costs. Don’t fret – the Tangem app displays the fees, so you don’t experience any surprises.

Tangem Wallet Alternatives

While Tangem introduces a fresh take on cold storage with its NFC-enabled card design^[2] and extensive currency support, it’s worth weighing it against more established hardware wallets. The following comparisons will highlight how Tangem’s features, security measures, and pricing stack up against leading alternatives.

Tangem Wallet VS Ledger Flex

Both the Tangem Wallet and Ledger Flex are fully offline “cold” wallets, yet they target different user needs: Tangem emphasizes ultra-portable NFC-only access and rugged simplicity at an entry-level price, while Ledger Flex delivers a next-generation secure touchscreen interface, advanced connectivity, and Ledger’s proven Secure Element security model at a premium.

Tangem Wallet is ideal if you want a charge-free, card-style wallet that you tap to your phone, supports 85 networks out of the box, and costs just $69.90 for a 3-card set.

Ledger Flex, by contrast, is for those who value transaction transparency on a 2.8″ Secure E Ink® touchscreen, multi-device pairing via USB-C, Bluetooth, and NFC, plus the option to display NFTs on a customizable lock screen - all for $249.

📚 Read More: Ledger Flex Review

Tangem Wallet VS Ledger Stax

Another well-known cold wallet is Ledger Stax. It’s a common choice for seasoned crypto traders who value the security of their digital assets. Ledger Stax costs $399, which is a steep price compared to the Tangem Wallet, with the most expensive card set being only $69.

However, Ledger Stax is definitely worth the investment. It has certified secure element chips, recovery information, a custom operating system, and even independent audits to verify the reliability of Ledger.

The French National Agency for the Security of Information Systems (ANSSI) audited Ledger and issued a certificate confirming it’s a reliable and secure cold wallet.

However, Ledger Nano X supports over 5,500 cryptocurrencies, while Tangem offers a little more than 6,000. While it doesn’t seem like a huge difference between the supported coins, it might be crucial if you trade lesser-known coins.

Nevertheless, the most popular coins are available on Ledger, too. Both wallets are good choices for traders who want to hop on the mainstream trading choices while dabbling with altcoins or smaller projects. So, you should consider other criteria like pricing when choosing your wallet.

📚 Read More: Ledger Stax Review

Tangem Wallet VS KeepKey

The price point for both the Tangem Wallet and the KeepKey hardware wallet is similar. While the most expensive Tangem variation will cost $69, you can buy KeepKey for $78! KeepKey’s prices were a lot higher than the current ones, but the company decreased them, potentially due to competition.

KeepKey boasts extensive security measures like recovery seed phrases and PIN codes for restricting access to your wallet. Also, KeepKey randomly switches the numbers on your PIN code screen. For example, instead of the usual number sequence, like 1, 2, 3, etc., you’ll start with 7, 4, 9, etc. Such number shuffling prevents malware from copying your PIN code!

Additionally, you need to verify every transaction on KeepKey’s sleek interface. It requires only a few clicks, whereas the Tangem Wallet has an app and a card for verification, which can make the process clunky. So, KeepKey offers a more traditional and straightforward type of cold storage solution for your digital assets.

The winning criteria for KeepKey are the supported coins. You can find over 7,000 coins on KeepKey as of writing this Tangem Wallet review, and the number is continuously increasing. The difference between KeepKey and Tangem matters to those traders who like swapping lesser-known coins and exploring new projects within the wallet.

📚 Read More: KeepKey Review

Tangem Wallet VS CoolWallet S

CoolWallet S is incredibly similar to Tangem – both are card-sized cold wallets and cost around the same. You can get CoolWallet S for $99, and that’s only $30 more than Tangem. Also, you can download the CoolWallet app for free and get access to crypto trading, NFT collections, and various dApps. Notably, it has a few more features than the Tangem app.

Also, CoolWallet S includes such security measures as 2-factor authentication, multi-signature, PIN codes, and seed phrases as a backup option. On top of everything else, you’ll need to pass a 3-step verification to confirm every transaction. So, it’s a solid effort to ensure your funds are safe.

Another advantage of CoolWallet S over Tangem is the Bluetooth connection, which has faster data transfer than NFC. Also, you won’t need to tap your CoolWallet S card on your phone since Bluetooth allows longer-range communication between devices!

📚 Read More: CoolWallet S Review

How to Get Started with Tangem Wallet?

The process of getting started with the Tangem Wallet is straightforward. Join our introductory Mission to Tangem and get a chance to win some prizes when exploring the Tangem website!

Pros

• User-friendly design
• Robust security
• Long battery life

UP TO $500 IN BTC

Pros

• A brand-new design
• Industry-leading security
• Coin, token and NFT storage

UP TO $500 IN BTC

Pros

• Supports 1,000+ crypto assets
• Easy navigation
• Open-source

GET UP TO 50% OFF

Conclusions

We’ve examined various aspects in this Tangem Wallet review, and by now, you should have a clear picture of what it offers. Its sleek, card-like design and portability are great for people who want to manage their crypto on the go.

Additionally, you’ll access over 6,000 cryptocurrencies on Tangem Wallet, giving you numerous options for a diversified portfolio. Keep in mind that the Tangem hardware wallet has some drawbacks, like dependence on physical cards and an overall confusing concept for beginners!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Pantiukhov P., Koriakov D., Iannillo A., State R.: 'Whistleblowers’ Protection with XRP Ledger';

2. Vandamme E.: 'The Future of Blockchain Technology'.